Melrose Office Suite
For Sale
$899,000
830 Main St # 1 Melrose, Melrose, MA 02176
Office suite near hospital, public transit, and downtown Melrose.
Property Size2,058 SF
Price / SF$436.83
Days on Market153
Property Features for 830 Main St # 1 Melrose
General Information
Standard status
Active
Size
2,058 SF
Zoning
BD
Taxes and HOA fees
Annual Taxes
$10,721
Building Details
Building Size
2,058 SF
Year Built
1983
Listed By:
Crystal Silva
(774) 309-3101
Source:
Milestonerealtyinc
Added: May 15
Changed: Oct 7
Last Checked: Oct 7 at 9:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Crystal Silva
Investment Insights
Based on property information with market context.
This office suite condo is suitable for medical or professional use. The property is located within walking distance of MelroseWakefield Hospital, public transportation, and downtown Melrose. This lower-level unit features five exam rooms, two private offices, a spacious reception area with custom built-ins, an additional reception or waiting area, a staff lounge and kitchenette, two bathrooms, a business center, and storage space. Onsite parking is available. The property has a size of 2058 square feet.
Key Highlights
- Prime location near MelroseWakefield Hospital, public transit, and downtown Melrose.
- Ideal for medical or professional use with existing exam rooms and offices.
- Accessible lower‑level unit.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,301
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,306,020
$1.3M
Cap Rate 7%
$932,871
$932.9K
Cap Rate 9%
$725,567
$725.6K
Market Conditions
NOI Build-Up for 2,058 SF
Gross rent
$111.6K $54.24/SF
− Vacancy
−$24.6K −$11.93/SF
EGI
$87.1K $42.31/SF
− OpEx
−$21.8K −$10.58/SF
NOI
$65.3K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,306,020
Cap Rate 7%
$932,871
Cap Rate 9%
$725,567
Alternative Uses
Best Use
Office B
$932.9K
$816.3K – $1.09M
NOI $65,301 @ 7.0% cap · market cap 7.26%
Second Best
Healthcare Medical
$853.4K
$746.7K – $995.6K
NOI $59,737 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,283 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02176, MA
29,817
Population
12,724
Households
2.3
Avg Household Size
41
Median Age
62%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
6,344
Density / Sq Mi
$126,854
Median Household Income
$80,293
Median Earnings
$1,933
Median Rent
$796,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Office suite near hospital, public transit, and downtown Melrose.
Where is this medical office space located?
The property is located at 830 Main St # 1 Melrose Melrose, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Prime location near MelroseWakefield Hospital, public transit, and downtown Melrose.; Ideal for medical or professional use with existing exam rooms and offices.; Accessible lower‑level unit.
